Jinhui Shipping & Transportation (Jinhui) through its wholly-owned subsidiary Jinping Marine sealed a contract on March 6 for the disposal of a bulk carrier at a consideration of $23.455m.

The Jin Ping is a bulk carrier of deadweight 63,485 metric tonnes, built in 2014, and registered in Hong Kong.

The purchaser of the vessel Hongkong Yiming Shipping Limited is a company incorporated in Hong Kong and is principally engaged in ship owning and operation.

The vessel which has been owned by the Group since 2022 will be handed over to its new owner between 1 June 2026 and 15 July 2026.

The company said the disposal of the vessel is in line with the ongoing strategy of the group to optimize its vessel fleet by maintaining a well-balanced portfolio of the vessel fleet and reduce its operational risk exposures in current volatile markets.

“The disposal of the vessel will enable the Group to enhance its working capital position and further strengthen its liquidity and overall financial position,” the statement of Jinhui reads.

The group currently operates twenty-one vessels, of which eighteen are owned vessels (including the Jin Ping) and three are chartered-in vessels, with total deadweight carrying capacity of approximately 1.7 million metric tonnes.

Jinhui operates a diversified fleet of dry bulk vessels, comprising capesize, panamax, ultramax, and supramax bulk carriers.